Energy Composites Corporation Appoints Interim Chief Financial Officer
12 January 2011 - 1:40AM
Business Wire
Energy Composites Corporation (“ECC”) (NASDAQ OTC:ENCC)
announced the creation of the position of Chief Financial Officer
and the appointment of Timothy Sherlock, a current company
director, as the Interim Chief Financial Officer. The Company has
commenced a national search for a permanent CFO. Mr. Sherlock will
continue to serve as a company director and was recently appointed
chairman of the Board’s Audit Committee.
“Tim has been a big contributor to ECC as a director, and we
look forward to his contributions as the Company’s Interim CFO,”
said Jamie Mancl, ECC’s founder and President. “Tim’s broad
experience as CFO of publicly traded companies, as well as his
expertise in capital structures, will be key as we advance our
financing discussions for our new WindFiber™ operations and
managing our working capital for the expansion of our ECC
Corrosives market. 2011 will be a strong year for ECC, and Tim will
be there to help us harness the market profitably for our
shareholders.”
In addition to serving on ECC’s Board, Mr. Sherlock has held the
CFO position in three public companies – ARI Network Services,
Inc., Catalyst International, Inc., and Renaissance Learning, Inc,
and is a member of both the American Institute of Certified Public
Accountants and Financial Executives International. Mr. Sherlock
has nearly 25 years of experience in corporate finance, and is a
Certified Public Accountant.
Jim Miller, the 2010 Chairman of the Company’s Audit Committee
and current member, added, “I have worked with Tim now on the Audit
Committee for sixteen months, and I am happy to see him step up to
take on this important responsibility. Tim knows ECC’s business
thoroughly, and his expert hand is welcomed at this important time.
The rapid scale-up of our ECC Corrosion backlog, coupled with the
complex decision-making process that will be associated with
choosing between offers from competing states to provide the final
site and financing structure for WindFiber™, will benefit from
Tim’s expertise. We also hope to have Tim’s replacement, the
permanent CFO, in place sometime in the second quarter.”
ECC also announced that the Board had accepted the resignation
of Jeffrey Kuentjes from his position as Vice President –
Finance.
“We’d like to thank Jeff for his many contributions over the
last three years and wish him well with his future endeavors,” said
Jamie Mancl the company’s president.
About Energy Composites Corporation
ECC operates a world-class, automated 73,000 sq. ft.
climate-controlled manufacturing facility in Wisconsin Rapids, WI,
employing advanced composite materials to design, engineer and
manufacture complex composite structures, vessels and processing
systems for a range of clean-tech applications that include: wind
energy system components, flue gas desulfurization for power
plants, infrastructure for bio-fuel storage and processing,
infrastructure for managing waste water and drinking water,
advanced municipal utilities infrastructure, and caustic material
storage and handling systems for the petrochemical, mining and the
pulp and paper industries. ECC also provides 24/7 field service
crews nationwide for wind energy system composites maintenance,
repair and overhaul; industrial retrofit, shutdown and maintenance;
system installation; and repair and inspection services. For
additional information, visit our website at
www.energycompositescorp.com or contact Jamie Mancl at
1-800-787-5439.
Certain statements found in this press release may constitute
forward-looking statements. Forward-looking statements are based on
current expectations and include any statement that does not
directly relate to a current or historical fact. Such statements
are generally identifiable by the terminology used, such as
“anticipate,” “believe,” “intend,” “expect,” “plan,” or other
similar words. Our forward-looking statements in this release
generally relate to our expectations and beliefs with respect to
our growth and expansion activities and plans. Although it is not
possible to foresee all of the factors that may cause actual
results to differ from our forward-looking statements, such factors
include, among others, the following: (i) unforeseen delays, costs
or liabilities associated with our growth and expansion plans; (ii)
fluctuations in general economic conditions; and (iii) those risks
described from time to time in our reports to the Securities and
Exchange Commission. Investors should not consider any list of such
factors to be an exhaustive statement of all of the risks,
uncertainties or potentially inaccurate assumptions that could
cause our current expectations or beliefs to change. Shareholders
and other readers should not place undue reliance on
“forward-looking statements” as such statements speak only as of
the date of this release. We undertake no obligation to update
publicly or revise any forward-looking statements, other than as
required by law.
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